Tax Tip #224

Parents, if you have kids in college, it’s that time again — time to complete the dreaded Free Application For Federal Student Aid. FAFSA requires information from the parent’s tax return, but what if the parents are not current with their tax return filings? 

A student can still submit the FAFSA form with their own information and skip the parent questions. However, without the parental tax information, the student’s aid index will not be calculated and the student may only be eligible for a Direct Unsubsidized Loan. 

Are you the parent of a college student and behind on your tax filings? Contact a team member who can help you get those tax returns filed.